Fast-track GST refund, else 65K cr may be stuck: Exporters
GST
Dated:- 20-9-2017
New Delhi, Sep 19 (PTI) Fearing that a staggering ₹ 65,000 crore could get stuck in GST refunds, exporters today asked the government to fast-track the refund process and avoid further deterioration in their "liquidity situation".
\nThe Committee on Exports, chaired by Revenue Secretary Hasmukh Adhia, today met 8 export promotion associations to understand their concerns post the implementation Goods and Services Tax (GST) from July 1.
\n"If refund does not start flowing immediately then about ₹ 65,000 crore would be stuck by the end of October. This will further deteriorate exporters' liquidity situation," FIEO D<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n hmed said that exporters are faced with challenging times due to GST and need immediate refund of taxes. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Fast-track GST refund, else 65K cr may be stuck: Exporters GSTDated:- 20-9-2017New Delhi, Sep 19 (PTI) Fearing that a staggering ₹ 65,000 crore could get stuck in GST refunds, exporters today asked the government to fast-track the refund process and avoid further deterioration in their "liquidity situation". The Committee on Exports, chaired by Revenue Secretary … Continue reading “Fast-track GST refund, else 65K cr may be stuck: Exporters”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7841","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7841"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7841\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe Gems and Jewellery Industry demanded exemption from Integrated GST (IGST) on procurement of precious metals from the nominated agencies for the purpose of manufacture and export of jewellery.
\nThey also sought a corresponding Central GST and State GST exemption on the subsequent supply made by the nominated agencies to the exporter of jewellery.
\nThe GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, had in its last meeting on September 9 decided to set up a committee under Adhia to look into the issues faced by the export sector.
\nIn its presentation before the committee, the FIEO stated that h<\/p>\n
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